Stumped...

[Anonymous]

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@CribDuchess wrote:

To the OP - I would definitely recommend that you apply with your bank.  The worst they will say is no, but they might surprise you.  It's only gonig to cost you an inquiry on your credit report(s).  Oh, and I would just go out and get those apps done all at one time so your inquiries can all age together.  And save Cap1 for last as they tend to pull all three bureaus.  Plus, if you're successful at your own bank, maybe you won't need Cap1 after all.

Best of luck to you!!!

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Thanks, I have tomorrow off so I guess I'll stop by my local Suntrust branch and see what they have to offer. Hopefully they will enlighten me.

Also a big thanks to everyone who has replied, I apprecaite everyone's willingness to take the time to help further educate me.

[Revelate]

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@jamie123 wrote:

If you belong to a Credit Union as the other poster mentioned IT DOES MAKE A DIFFERENCE!

Banks don't care! There is a HUGE difference between how banks and credit unions treat their customers.

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Not necessarily.  As I've stated previously, there seems to be a marked difference in both BOFA's and Chase's business policies regarding customers lately.

Also some CU's are more picky and fustruating to deal with than big banks as well.  It never, ever hurts to have a depository account at an institution you're applying for a credit card from, and quite possibly it is a bonus.  Ergo, absolutely apply at any bank you do business with.

[Revelate]

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@trumpet-205 wrote:

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@android01 wrote:

Sorry, but I'd say BS to that.  If you have an established relationship with a specific bank, and it's a good relationship, then I'd say you have a better than average chance of getting a credit card with them.  I always advocate getting a credit card with an already established relationship with any bank as the odds are more favorable to you to not only get a higher CL, but also a lower APR.   

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I disagree. My dad who has excellent credit (800+ FICO score) and established relationship with Wells Fargo got denied for mortgage refinance (and low balled for WF CC). On the other hand, local bank was more than happy to give my dad the lowest APR on refinance.

When it comes to big bank, there is no preferential treatment even if you have relationship with them. If they have preferential treatment it is usually for those who are wealthy, as in entrepreneur, celebrities, etc.

Local bank and credit union often are more willing to work with you, whereas big bank is more "robotic".

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Try with others besides WF, they're notoriously unfriendly in pretty much every single one of their policies.  Don't have to look any further than their credit card portfolio, or the shennigans they pull with their secured card graduation.

[DaveSignal]

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@Anonymous wrote:

Thanks, I have tomorrow off so I guess I'll stop by my local Suntrust branch and see what they have to offer. Hopefully they will enlighten me.

Also a big thanks to everyone who has replied, I apprecaite everyone's willingness to take the time to help further educate me.

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I think Suntrust has a secured card that you could probably get with little or no credit history if the unsecured route falls through.

[Anonymous]

Update: So I stopped by SunTrust and after looking over my checking account and the $6K+ in my account, the loan officer still insisted I have a co-signer to insure that I was approved. I asked if I could just acquire a secured credit card instead and he informed me that they do not offer one. So, I told him i'd get back with him with him within the week with my choice of my co-signer... On my way home I remembered there is a Robins Federal Credit Union about a half mile down the road from SunTrust. I decided to stop in and see what all they had in way of a secured credit card even though I don’t have an account with them because my fiancé does. Within 20 minutes I opened a free checking account and was approved for $1,000 line of credit with their My Money, My Way Visa card without any security deposit. 

So there you have it. The credit union was by far the easier route in my experience.

[maiden_girl]

I'm surprised they gave you such a high limit considering you're new to credit. I guess its where and when you apply. I applied all over the place for my first credit card and I got nothing but denial letters. But I applied with CapOne who approved me at $500 two years ago. Within 3 months, they increased my credit limit to $750. Now some years later I'm barely getting an increase to $1,000! LOL. But congrats on the card!

[mistabgeez]

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@Anonymous wrote:

Update: So I stopped by SunTrust and after looking over my checking account and the $6K+ in my account, the loan officer still insisted I have a co-signer to insure that I was approved. I asked if I could just acquire a secured credit card instead and he informed me that they do not offer one. So, I told him i'd get back with him with him within the week with my choice of my co-signer... On my way home I remembered there is a Robins Federal Credit Union about a half mile down the road from SunTrust. I decided to stop in and see what all they had in way of a secured credit card even though I don’t have an account with them because my fiancé does. Within 20 minutes I opened a free checking account and was approved for $1,000 line of credit with their My Money, My Way Visa card without any security deposit. 

So there you have it. The credit union was by far the easier route in my experience.

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Congrats! My first card when I started rebuilding was with my credit union. It has continued to grow with me. Take 6 months to a year to garden and decide which cards you would like to apply for later. I asked for a CLI a year after I opened my card and my limit went from $500 to $2500.  

[migliogiorni]

Congrats on your new card your on your way to building credit, GL.

[CruzImperial]

I´m very happy for the approval Congratulation and treat it well